I need help constructing this project I want to use elements from football or food two things I love. I am leaning towards food specifically burger businesses. I am thinking about a new entrepreneurstarting a fast food burger restaurant and eventually a chain. I have started my project I just need help and guidance in making it relevant to a procedure from the course. I think the business or problem should deal with the time it takes either broiler versus the griddle for the burger to cook. Maybe price of the machines can come into factor and whenthe return of investment would happen for either process? I have attached examples that were provided for reference. I hope you can help out configuring a Chi-square or ANOVA or a Critical versus P-value hypothesis? The ProjectStart image is what I have started so far for this project.

Project Description:

Identify and analyze a real-life, business application of statistics. The "business" can be a for-profit, non-profit, small or large entity. The following are not acceptable topics:

• A specific application/problem discussed in class
• An application that uses descriptive statistics (i.e., graphs, percentages, measures of central tendency or dispersion)
• The statistical procedures I chose could be either/or Chi-Square, ANOVA, F-test, p-value, critical value
• I do not have to collect actual data from a business or apply the statistical procedure/calculations
  

STATISTICS FOR BUSINESS NINS 601 glacial Project (Example #2! Name: Student E Date: PartA: Description afBusiness Context Write a E sununary of the business context (e.g., manufacturing, marketing, finance, etc.) including the name of the company our organization. Crystal Geyser (Company) sells bottled water, collected .trom alpine springs, through various US. retail channels. Part B: Problemssue State the business problem/issue to he addressed using statistics and why this problem/issue is important to the company/organization. Several new competitors have entered the n'tarket during the past year, eroding some of the Company's custon'ler base. The Company wants to revive its sales through the inlpleuLentatim of a new marketing campaign. As part of this pmuass, the Company wanm to determine the-popularity of its product among customers of different socioeconomic status. Part C: Statistical Procedure Explain the statistical procedure (NOTE: Focus on ONE statistical procedure only) 1. Independent variable: a] What is the variable: Socioeconomic status to) How it is measured (e.g., revenue measured in "dollars\"; height measured as "short, avaage, tall") Low, middle, high c) Level of measurement (nominal, ordinal, interval, or ratio): Ordinal P. Dependent variable: a} What is the variable: Frequency of purchase b) How it is measured (e.g., revenue measured in "dollars"; height measured as "short, average, tall") Never purchase, occasionally purchase, frequently purchase c) Level of uneasurement (nominal, ordinal, interval, or ratio): Ordinal 3. Name of the procedurdfounula (e.g., ANOVA, ChiSquare, Hypothesis Test using 2 formula, Regression Analysis, eth. NOTE: The procedure] formula m_ust he one that was covered in the course: Chi-Square test 4. Describe the statistical rationale/justification for choosing this procedure] formula: ChiSquare test for independence is used when the independent variable has 2 or more groups (nominal or ordinal level) and when the dependent variable is n'Leamred at the nominal or ordinal level. 5. Describe how the data are collected by the business/organization: The Company hired a market researchrm to conduct a survey of a sample of customers drawn from the target population. Response data were collected via a telephone survey. Describe how the data are analyzed (i.e., how the statistical procedure is performed]: The null and alternative hypotheses are dened (Ho: There are no differences among the groups with respect to their frequency of purchase. H1: There are differences among the groups with reapect to their frequency of purchase); an alpha level is set: Chisquare is calculated using the-formula: x2 = uid ead]2 + eq]; the calculated )6 value is compared to the elitical x1 value (found in the x7- tahle); ifxz calculated ( x2 critical H0 is accepted and it x3 calmilat'ed > )6 critical HI} is rejected. Part D: Decisiarntmpreta tion Explain the type of business decision that the companyforganizatiou would make as a result of this statistical analysis. It Ho is accepted, CrystalGeyser can conclude that it does not need to diererlate its advertising/ marketing strategy by socioeconomic status. It Ha were rejected, Crystal Geyser would further analyze the survey results to determine which socioeconomic group[s) to specically target inits new marketing campaign